Government Strangles High-Tech Growth

The CEO of Intel has joined the ranks of those labeling big government as the cause of our economic slump, not the solution.

Paul Otellini says it already costs Intel an extra billion dollars to build a microchip plant in the U.S., rather than overseas. In his illustration, it’s an extra 25% to create a $4-billion facility.

He told this to an Aspen gathering of the Technology Policy Institute, adding that government is killing America’s leadership for jobs of tomorrow. Otellini said, “We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case.”

While promoting education, research, favorable trade policies, and broadband expansion, he made it clear that tax policies are key—policies that are the opposite of what Congress and the Obama Administration are promoting. (more…)